Oman to study Taiwan's capital market

TAIPEI--Oman's Capital Market Authority (CMA) is planning to learn about capital market development from Taiwan's GreTai Securities Market (GTSM), the GTSM said Thursday.

Meanwhile, the GTSM said, it is likely to introduce Oman's sovereign funds into the local market once it forges cooperative ties with the CMA.

Currently, the GTSM operates the local over-the-counter market, the emerging stock market and the incubation market, serving as the major platform to nurture small and medium-sized enterprises (SMEs) in Taiwan.

CMA Vice President Mohammed Saeed Al Abri and John Spencer, manager of the CMA's new business development division, said during a visit to the GTSM Wednesday that they are willing to learn from Taiwan's capital market.

GTSM Chairman Wu Sou-shan said Oman is one of the booming economies in the Middle East, with SMEs becoming a driver of the country's growth.

In a bid to further facilitate the development of SMEs in Oman, the CMA is aiming to work with the GTSM and increase business exchanges with Taiwan, Wu said.

He said the CMA and the GTSM are scheduled to start discussions in April on the possibility of the local exchange sharing its expertise and experience with Oman, particularly in the areas of operating an emerging stock market and incubation market.

In particular, the CMA hopes to learn how to set up a successful emerging stock market that will help SMEs raise funds and grow, Wu said.